Nissan shares evidence against Carlos Ghosn with Renault

Renault is facing a crunch decision over CEO Carlos Ghosn after Nissan shared details of an investigation th...

Posted: Dec 12, 2018 2:29 PM
Updated: Dec 12, 2018 2:29 PM

Renault is facing a crunch decision over CEO Carlos Ghosn after Nissan shared details of an investigation that led to his arrest and indictment in Japan.

Members of Nissan's legal team briefed lawyers for the French carmaker in Paris on Monday, the first exchange of information about the case between the partner companies since Ghosn was arrested in Tokyo on November 19, according to a source familiar with the matter.

Business figures

Carlos Ghosn

Companies

Nissan Motor Corporation

Renault SA

Asia

Continents and regions

East Asia

Japan

Arrests

Crime, law enforcement and corrections

Criminal law

Law and legal system

Law enforcement

Tokyo

Ghosn's legal troubles have plunged the future of the alliance he forged between Renault (RNSDF) Nissan (NSANY) and Mitsubishi Motors (MMTOF) into doubt, and cost him the chairmanship of both Japanese carmakers.

Renault has so far taken a different approach, appointing interim management but keeping Ghosn in his positions as CEO and chairman. The company stated as recently as Monday that it had not seen details of the allegations against him.

Renault declined to comment Wednesday when asked about Monday's legal briefing.

Tokyo prosecutors on Monday indicted Ghosn, 64, on accusations he under-reported his income in Nissan corporate filings by about 5 billion yen ($44 million) between 2010 and 2015.

They also rearrested him on additional allegations that he also under-reported his income by more than 4.2 billion yen ($38 million) between 2015 and 2017. He will remain in police custody until at least December 20.

Japanese public broadcaster NHK reported Monday, citing unidentified sources, that Ghosn is denying the allegations against him.

Nissan said last month that an internal investigation discovered "significant" financial misconduct by Ghosn and Kelly following a whistleblower report.

"The evidence presented to Nissan's board last month was substantial and compelling enough to result in a unanimous vote. We believe any objective review of this evidence would find this evidence equally convincing," a Nissan spokesman said on Wednesday.

Renault has launched an internal audit following Ghosn's arrest, but the results have not yet been disclosed.

It's not clear whether the sharing of evidence against Ghosn, which was authorized by prosecutors in Tokyo, will cause Renault to change its approach to the crisis.

The indictment of Ghosn raises the prospect of a challenging court battle for the Brazilian-born business leader. He filed a complaint against his detention earlier this week but it was rejected by a Tokyo court.

More than 99% of people charged with a crime in Japan are eventually convicted, according to experts. The maximum punishment in Japan for filing a false financial statement is 10 years in prison and a fine of 10 million yen ($89,000).

Both Nissan and Renault have said Ghosn's arrest won't affect their alliance, which produces one out of every nine vehicles worldwide. Officials from the French and Japanese governments have echoed those sentiments.

West Lafayette
Clear
72° wxIcon
Hi: 73° Lo: 47°
Feels Like: 72°
Kokomo
Partly Cloudy
73° wxIcon
Hi: 74° Lo: 47°
Feels Like: 73°
Rensselaer
Clear
72° wxIcon
Hi: 73° Lo: 47°
Feels Like: 72°
Fowler
Partly Cloudy
72° wxIcon
Hi: 73° Lo: 48°
Feels Like: 72°
Williamsport
Clear
74° wxIcon
Hi: 73° Lo: 48°
Feels Like: 74°
Crawfordsville
Clear
73° wxIcon
Hi: 73° Lo: 45°
Feels Like: 73°
Frankfort
Clear
73° wxIcon
Hi: 73° Lo: 47°
Feels Like: 73°
Delphi
Clear
69° wxIcon
Hi: 74° Lo: 47°
Feels Like: 69°
Monticello
Clear
69° wxIcon
Hi: 75° Lo: 49°
Feels Like: 69°
Logansport
Clear
73° wxIcon
Hi: 74° Lo: 45°
Feels Like: 73°
A chilly start but scattered rain is possible tonight
WLFI Temps
WLFI Planner

Indiana Coronavirus Cases

Data is updated nightly.

Cases: 1001697

Reported Deaths: 16370
CountyCasesDeaths
Marion1349142114
Lake660941157
Allen57517796
Hamilton46157464
St. Joseph44155608
Elkhart35752508
Vanderburgh32119478
Tippecanoe27824258
Johnson24961444
Hendricks23767355
Porter22833364
Madison18662406
Clark18449252
Vigo17379302
Monroe15205198
LaPorte15077250
Delaware15006260
Howard14647288
Kosciusko12235147
Hancock11639175
Bartholomew11517179
Warrick11264189
Floyd11040214
Wayne10918252
Grant10000218
Morgan9427176
Boone8874116
Dubois8240131
Dearborn818193
Henry8154152
Noble7985106
Marshall7854134
Cass7510120
Lawrence7414170
Shelby7160117
Jackson694688
Gibson6534113
Harrison645891
Huntington635399
Knox6299106
DeKalb627699
Montgomery6214109
Miami590598
Putnam576278
Clinton571371
Whitley561555
Steuben557075
Wabash5289103
Jasper526677
Jefferson507596
Ripley496886
Adams476875
Daviess4632113
Scott436672
Greene422496
Wells421788
Clay420660
White416964
Decatur4139101
Fayette404987
Jennings385260
Posey375343
LaGrange354978
Washington354049
Randolph342599
Spencer337642
Fountain332658
Sullivan327452
Starke314069
Owen312770
Fulton307767
Orange292063
Jay282245
Perry264752
Franklin264542
Carroll259832
Rush259532
Vermillion256454
Parke230026
Pike228143
Tipton227059
Blackford191141
Pulaski182056
Crawford158823
Newton156648
Benton150217
Brown145247
Martin137419
Switzerland134311
Warren120616
Union106916
Ohio84212
Unassigned0538

COVID-19 Important links and resources

As the spread of COVID-19, or as it's more commonly known as the coronavirus continues, this page will serve as your one-stop for the resources you need to stay informed and to keep you and your family safe. CLICK HERE

Closings related to the prevention of the COVID-19 can be found on our Closings page.

Community Events